RBI and CBUAE signs 2 MOUs to facilitate seamless cross border transactions and payments

The two MoUs are aimed at facilitating seamless cross border transactions and payments, and foster greater economic cooperation between the two countries from | The HinduBusinessLine https://ift.tt/WP7Ib...

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Uday Kotak reflects on time as head of bank in latest annual report

“I feel the financial sector players risk becoming more robotic, curbing the entrepreneurial flair since the fear of making a mistake overrides the joy of creation and development,” he said. from | The HinduBusinessLine https://ift.tt/2TUKb...

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Credit Suisse inquiry will keep files secret for 50 years, reports Swiss paper

The investigation will focus on the activities of the Swiss government, financial regulator and central bank in the run up to emergency takeover of Credit Suisse by UBS in March. from | The HinduBusinessLine https://ift.tt/iRZs9...

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Financial sector bats for LGBTQIA+ rights, makes inclusive policy

Led by names such as Axis Bank, Goldman Sachs, JP Morgan, Protium and Wells Fargo have challenged stereotypes by advocating for the rights and welfare of the LGBTQIA+ community. from | The HinduBusinessLine https://ift.tt/XSU3v...

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PSU banks wary of SBI’s dismal AT-1 bond issue, may delay fund-raising

A lot of the other PSU banks, which have either taken approvals or are lining up bonds, might now “wait and watch” from | The HinduBusinessLine https://ift.tt/dxTe9...

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Incremental credit-deposit ratio of banks slides to 63.7% in Q1FY24

This comes in the backdrop of deposit growth outstripping credit growth; CD ratio was at 100.32 pc in Q1FY23 from | The HinduBusinessLine https://ift.tt/1C4BW...

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Bandhan Bank registers 19% drop in net profit in Q1FY24

Interest income has been impacted due to lower disbursements as credit demand is generally muted during Q1: MD Ghosh from | The HinduBusinessLine https://ift.tt/EsjcG...

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Sensex closes above 66,000-mark for first time

Indian equity indices, BSE Sensex and NSE Nifty, achieved new all-time high records on Friday, fuelled by IT stocks on expectations of a pause in the rate-hiking cycle by the US Federal Reserve. Large cap stocks performing well include HCL Technologies, Infosys, Tata Consultancy Services, ICICI Bank and Kotak Mahindra Bank. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/SYeio...

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SBI Tier-I bond issuance: Investors turn circumspect about 10-year ‘call option’

Bank mops up Rs 3,101 cr against overall issue size of Rs 10,000 cf from | The HinduBusinessLine https://ift.tt/inf4x...

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Bandhan Bank board meets today to consider unaudited financial results for Q1FY24

The bank is expecting close to 20 per cent growth in deposits and advances in FY24 from | The HinduBusinessLine https://ift.tt/NCUjO...

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Russian oil: Trade headaches for India as crude prices hit $60

Russia's major oil buyer India is preparing for tougher talks with banks that finance oil cargoes, following the breaking of the $60 a barrel cap on Russian oil. India and China have become the two dominant buyers of Russian crude since the OPEC+ producer shunned other purchasers. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/nCJw6...

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NBFC arm FedFina reconsidering capital raise options: Federal Bank

“The company had filed a Draft Red Herring Prospectus (DRHP) last year and was exploring a capital raise but the markets were not that friendly at that point in time,” said CEO Shyam Srinivasan from | The HinduBusinessLine https://ift.tt/eZmhz...

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G-Secs perk up, shrugging off higher June inflation reading

Track rally in prices of US Treasuries from | The HinduBusinessLine https://ift.tt/1PjTf...

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Pension regulator invites bids for PINTRA, its intranet system

Last date for submission of bids for selection as a System Integrator is August 16; PFRDA to roll out more technology modules in the coming days from | The HinduBusinessLine https://ift.tt/xaFN8...

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Unsecured retail loans up 47% CAGR since FY21; credit card delinquencies rise

Buoyed by digital and small ticket lending from | The HinduBusinessLine https://ift.tt/0S93l...

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Federal Bank Q1 PAT up 42% on strong income growth

from | The HinduBusinessLine https://ift.tt/MWajF...

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Sensex breaches record 66,000-mark, Nifty scales fresh lifetime high as IT, banking shares advance

Benchmark stock indices hit their all-time high levels in intra-day trade on Thursday, with Sensex breaching the historic 66,000-mark for the first time following a rally in global markets amid moderating US CPI inflation data. Buying in market heavyweight stocks Infosys, ICICI Bank and Tata Consultancy Services also helped markets settle in the positive territory. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/dfInm...

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Google Pay introduces UPI LITE

UPI LITE enables users to make one-click UPI transactions without the need for UPI PIN from | The HinduBusinessLine https://ift.tt/utME6...

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HDFC Bank enables CBDC-compatible UPI QR code for seamless payments

With this, the customers can transact money available in their CBDC wallet across UPI QR codes. from | The HinduBusinessLine https://ift.tt/Dsd6x...

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Barclays, Yes Bank raise India inflation forecast as prices jump

India's inflation rose to a three-month high of 4.81% in June compared with 4.29% in May, due to surging prices of vegetables and pulses. This prompted economists to raise their forecasts for the year with Barclays now seeing consumer price inflation averaging at 5%, Yes Bank at 5.3%, and Emkay Global Financial Services at 5.2%. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/UcRD6...

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Wall Street returns to highest level in more than a year

While most stocks advanced, gains turned muted as the day progressed, with the S&P 500 closing 0.7% higher, the Dow up 0.3% and the Nasdaq Composite advancing 1.2%. Gains were led by big technology and high-growth stocks, while banks also rose on the back of hopes for a halt in rate hikes. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/KvpuW...

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Bank of India inaugurates IFSC Banking Unit at GIFT City

Bank of India looks at achieving $1 billion in business by March 2024 from | The HinduBusinessLine https://ift.tt/i70hH...

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Dvara KGFS raises $10 million in ECB

The fundraiser to be instrumental in augmenting Dvara KGFS’s capital adequacy and accelerating its growth plans in FY24 from | The HinduBusinessLine https://ift.tt/Ymiyf...

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The bank didn’t expect us to move so fast: IDFC Ltd chief

Anil Singhvi, Chairman, IDFC Limited, discusses the contours of the company’s ongoing merger with IDFC First Bank from | The HinduBusinessLine https://ift.tt/wlYcf...

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Rupee’s plunging volatility leaves investors guessing RBI moves

The one-month implied volatility of the Indian rupee versus the dollar has collapsed to its lowest rate since 2005, prompting concerns that the Reserve Bank of India (RBI) will relax its grip on the currency. The rupee's historical volatility is the lowest in Asia over the past year. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/MANBD...

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Wipro commits $1 billion investment into AI

Companies across the world, from banks to big tech, have doubled down on investments in AI after ChatGPT, a generative AI chatbot by Microsoft-backed OpenAI took the world by storm in late 2022. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/vsIbq...

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Stablecoins pose existential threat to policy sovereignty, CBDC preferable: RBI

A stable solution then is for every country to have its own CBDC and for countries to then create a mechanism where the CBDCs can interface and transact with each other: RBI Dy Guv from | The HinduBusinessLine https://ift.tt/byTLB...

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RBI governor asks banks to focus on governance

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/6sSHM...

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Scope of CBDC can be expanded to include settlement of primary G-Sec auctions and Rupee-denominated external debt: SBI Chief

Khara said CBDC salary accounts can be given as an option for those who wish to transact in this currency from | The HinduBusinessLine https://ift.tt/iRTnA...

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RBI targets 10 lakh CBDC transactions per day by year-end: Dy Guv Sankar

RBI is hoping to achieve this milestone by making CBDC interoperable with the UPI (Unified Payments Interface) system from | The HinduBusinessLine https://ift.tt/YhWmw...

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Banks need to be extra careful and vigilant: RBI Guv Das

Das emphasiszed the need for MDs and & CEOs to pay special attention to strengthening the governance of in the banks from | The HinduBusinessLine https://ift.tt/XmdZO...

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Citi Commercial Bank launches new digital client platform CitiDirect Commercial Banking

To start pilot in India in second half of 2023 from | The HinduBusinessLine https://ift.tt/kyY4r...

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Alphabet-backed Aye Finance allocates 100 crore for Shakti loans

Rolls out new products to solve funding challenges of women microenterprises from | The HinduBusinessLine https://ift.tt/9QR8n...

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Cholamandalam Investment to seek shareholders nod to nearly double borrowing powers to Rs 2 lakh cr

An enabling special resolution, allowing an 82 per cent increase in borrowings, will be moved at the AGM to be held on August 1 from | The HinduBusinessLine https://ift.tt/hyWRU...

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Max Life DCB Bank join hands to offer insurance products

Term, savings, and retirement plans will be offered to DCB Bank customers from | The HinduBusinessLine https://ift.tt/2EDRN...

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SBI Card appoints Abhijit Chakravorty as MD & CEO for two years

Incumbent Chief Executive Rama Mohan Rao Amara transferred back to SBI, tenders resignation as SBI Card Chief from | The HinduBusinessLine https://ift.tt/A3oFR...

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Axis Bank witnesses rise in attrition rate despite acquisition of Citibank Indias consumer business

Axis Bank absorbed over 97% of Citibank’s employees following the acquisition, indicating that the majority of turnover occurred within the bank’s existing workforce. from | The HinduBusinessLine https://ift.tt/vH05y...

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Banks Q1 results seen steady; commentary on NIMs deposit growth eyed

Positive outlook: Led by strong growth trends, stable credit costs and asset quality from | The HinduBusinessLine https://ift.tt/eSIDr...

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Shriram Housing Finance mops up $50 m via maiden ECB

Shriram Housing Finance will utilise the funds for financing affordable housing in India from | The HinduBusinessLine https://ift.tt/Lbcu7...

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HDFC Bank leads integration process as 70% of HDFC top execs to retire

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/cUQMf...

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NHB operationalises 10000-crore Urban Infrastructure Development Fund

UIDF was announced in this year’s budget for creation of urban infrastructure in tier-2 and tier-3 cities from | The HinduBusinessLine https://ift.tt/Fmato...

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Financial due diligence underway at IDBI Bank

Process set to complete by September; final bids likely by December from | The HinduBusinessLine https://ift.tt/nrQZv...

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PFRDA to revamp pension fund regulations reduce cost of compliance

Seeks public comments on draft proposals by Jul 21 from | The HinduBusinessLine https://ift.tt/o4AER...

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Banks borrowings touch 8-month high of 5.05 lakh crore as of Jun 16

As per latest data, outstanding bank credit was at ₹140.23 lakh crore as of June 16, up 15.4 per cent on year, whereas bank deposits were at ₹185.7 lakh crore, higher by 12.1 per cent YoY from | The HinduBusinessLine https://ift.tt/SDGY2...

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Canara Bank to sign 3000 crore IT transformation deal

IBM and Kyndryl are the leading contenders in the bidding race for the partnership. from | The HinduBusinessLine https://ift.tt/VRAtv...

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Bank of India plans share sale to meet SEBI's minimum public holding norms

Bank of India aims for credit growth of 11-12 per cent in the current financial year, driven by retail, MSME, and agriculture loans from | The HinduBusinessLine https://ift.tt/vj4nL...

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